Indian markets come under the bear grip

Indian markets went into a tailspin on Monday as they witnessed a sharp sell-off during the trading session.

The Bombay Stock Exchange benchmark Sensex plunged 1,170.12 points or 1.96% to close at 58,465.89 points. This is the worst single-day drop in over seven months. This was also the fourth straight session of decline for the Sensex.

The NSE Nifty 50 also witnessed heavy sell-offs and closed 348 points or 1.96% lower at 17,416 points. Following Monday’s rout, the market capitalization of BSE-listed companies tumbled by 8.21 trillion rupees ($110 billion).

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